Repairs and Maintenance are not cheap and shipping carpet/furniture/etc to Hawaii calls for huge price premium so I would be sure keep a reserve for replacements.  

And for the implementation and testing of these, have people tried to change over in the course of a month or picked a reliable tenant as a tester or something in between?

Does the 60% the condo-hotel takes include the HOA fees or utilities or replacement of furniture/repairs to the unit like plumbing or stuff like towels and sheets etc?

If you're going to self-manage you should definitely pick market(s) that you are familiar with.

It can get what I call wear stains where people sit or lay their heads so that coating will keep that at bay.Start keeping an eye on Craigslist, FB marketplace and OfferUP for good used furniture. 

Read the note forums here, you'll pick up a lot of information, I have tons of posts and @Dion DePaoli does as well and so does @Dave Van Horn .:)

If i'm ever in the NE area I will sure to reach out to further pick your brain.

But nowhere near what we could have had they been finished a year ago (200k or more each).We have one right now in Gatlinburg that we picked up from someone that got the foundation in and that was it and had to sell fast because of a divorce. 

Pick those that are similar in size and look at their nightly rates, calendars and amenities.

In the backyard, what was previously grass and concrete was completely transformed into a lush vacation oasis, complete with a luxury pool, expansive deck, custom mural, chic furniture and hot tub for the ultimate tropical experience.